Gold and Silver Prices End at 1-Week High

by CoinNews.net on September 29, 2020 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold futures finished up 1.1% on Tuesday, Sept. 29

Precious metals posted strong gains for a second straight session Tuesday, led by silver which jumped 3.6% to end at a one-week high.

Gold for December delivery advanced $20.90, or 1.1%, to settle at $1,903.20 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s highest since last Tuesday, Sept. 22.

"The dollar has emerged as the single biggest influence on gold recently…and the fact that the greenback fell from two month highs [Monday] offered gold a tailwind," analysts at Sevens Report Research wrote in a Tuesday newsletter according to MarketWatch.

Gold futures ranged from a low of $1,880.80 to a high of $1,904.80. They rose 0.9% on Monday. On Friday, they closed at their lowest price since July 22.

Silver for December delivery soared 84.1 cents to close at $24.445 an ounce. Like for gold, the settlement was the highest for silver since Sept. 22. Silver futures traded between $23.51 and $24.55. They surged 2.2% on Monday. On Friday, they ended at their weakest price since July 22.

In other precious metals futures prices on Tuesday:

  • January platinum added $6.30, or 0.7%, to $897.70 an ounce, ranging from $880.70 to $899.50.

  • Palladium for December delivery tacked on $57.80, or 2.5%, to $2,329.30 an ounce, trading between $2,261.30 and $2,336.60.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold added $19.65, or 1.1%, to $1,883.95 an ounce.
  • Silver jumped 94.5 cents, or 4.1%, to $23.835 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week July August September 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 9,500 107,500 104,000 18,500 557,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 4,000 10,000 3,000 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 10,000 20,000 4,000 88,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 35,000 70,000 10,000 290,000
$50 American Buffalo 1 Oz Gold Coin 0 3,000 30,000 28,000 4,500 188,500
$1 American Eagle 1 Oz Silver Coin 0 517,000 1,084,500 4,477,000 1,888,000 20,066,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 45,000 0 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 45,000 N/A N/A 45,000 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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